Coinbase Global (NASDAQ:COIN) Earns “Buy” Rating from HC Wainwright

Coinbase Global (NASDAQ:COIN)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Friday, Marketbeat reports. They currently have a $240.00 price objective on the cryptocurrency exchange’s stock. HC Wainwright‘s price target points to a potential upside of 49.45% from the company’s previous close.

Several other research firms have also recently commented on COIN. Wolfe Research set a $325.00 target price on Coinbase Global in a research note on Thursday, July 9th. Mizuho set a $155.00 price objective on Coinbase Global in a research note on Friday, July 31st. Zacks Research raised Coinbase Global from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $212.00 price objective on shares of Coinbase Global in a research report on Friday. Finally, UBS Group set a $155.00 target price on shares of Coinbase Global in a research note on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $219.60.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $160.59 on Friday. Coinbase Global has a 52 week low of $139.11 and a 52 week high of $361.40. The company has a fifty day simple moving average of $180.32 and a two-hundred day simple moving average of $179.32. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. The company has a market cap of $42.37 billion, a price-to-earnings ratio of -41.82 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.92). The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The firm’s revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.14 earnings per share. As a group, equities analysts anticipate that Coinbase Global will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Marc L. Andreessen sold 6,838 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $198.00, for a total value of $1,353,924.00. Following the completion of the transaction, the director directly owned 1,108,972 shares of the company’s stock, valued at $219,576,456. This represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 39,030 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $205.24, for a total transaction of $8,010,517.20. Following the completion of the transaction, the chief financial officer owned 345,376 shares in the company, valued at $70,884,970.24. This represents a 10.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 127,188 shares of company stock worth $23,029,558 over the last 90 days. Insiders own 16.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new stake in Coinbase Global in the second quarter valued at $142,995,000. Southpoint Capital Advisors LP purchased a new position in shares of Coinbase Global during the first quarter worth about $104,766,000. National Pension Service grew its holdings in shares of Coinbase Global by 117.1% during the second quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange’s stock worth $93,784,000 after purchasing an additional 346,045 shares during the last quarter. Partners Wealth Management LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $42,554,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Coinbase Global by 103.2% during the third quarter. Assenagon Asset Management S.A. now owns 314,338 shares of the cryptocurrency exchange’s stock worth $58,889,000 after purchasing an additional 159,636 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Key Coinbase Global News

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase reported third-quarter net income of approximately $719 million, or $2.51 diluted EPS, reversing a mult quarter losing streak and exceeding analysts’ expectations. Operating expenses fell 13% sequentially, helping profitability. Coinbase Q3 earnings
• Positive Sentiment: Prediction markets surpassed $200 million in annualized revenue, Coinbase One subscribers reached a record, and subscription and services revenue increased 3% sequentially to $570.2 million. These trends support management’s strategy of diversifying beyond spot-crypto trading. Prediction markets growth
• Positive Sentiment: Coinbase added Ripple’s RLUSD stablecoin across its retail, exchange and institutional platforms, potentially increasing stablecoin-related activity and revenue. It also applied for authorization under Brazil’s new crypto rules and expects no service disruption while its application is reviewed. RLUSD availability
• Positive Sentiment: Rosenblatt Securities reaffirmed its “buy” rating and assigned a $200 price target, implying considerable upside from the reference price. Rosenblatt rating
• Neutral Sentiment: Coinbase CEO Brian Armstrong said quantum computing represents a more serious long-term cryptocurrency security threat than artificial intelligence. He characterized the issue as a matter of “when, not if,” though it is not an immediate earnings driver. Armstrong on quantum computing
• Negative Sentiment: Revenue was about $1.216 billion, down roughly 35% from a year earlier. Transaction revenue was approximately $590 million, while fourth-quarter subscription and services guidance of $550 million to $630 million suggests limited near-term acceleration. Coinbase profit composition
• Negative Sentiment: Approximately $715 million of the quarterly profit came from gains on Coinbase’s cryptocurrency holdings, making the headline earnings figure less representative of recurring operating performance. Coinbase crypto gains
• Negative Sentiment: A security incident at analytics vendor Amplitude exposed contact information for a small subset of customers. Coinbase said its systems and customer funds were not compromised, but the incident could increase reputational and fraud concerns. Customer contact-data incident
• Negative Sentiment: Reported insider activity has been overwhelmingly selling, including planned sales by senior executives and founders, which may weigh on sentiment despite not changing the company’s fundamentals directly.

About Coinbase Global

Coinbase Global, Inc operates a digital-asset financial infrastructure and technology platform. Through its Coinbase platform, the company enables individuals and institutions to buy, sell, store, transfer and use cryptocurrencies and other digital assets. Its services are designed to support both retail customers and institutional participants in the digital-asset economy.

The company offers cryptocurrency trading, custody and staking services, as well as subscription products and institutional solutions.